The housing market boom brought about by the unique factors amid the pandemic has started to ease but a new report from Well Home Loans identified 20 suburbs that appear to go the opposite direction.
The list, which is composed of nine metro and 11 regional locations, include markets that are showing clear signs of robust price gains.
Well Home Loans CEO Scott Spencer said these markets are likely to heat up further over the next few months.
“Inventory levels and days on market have fallen in all 20 locations over the three months to April, often from already low levels, which shows buying conditions have become harder,” he said.
The list is composed of suburbs across different price ranges, with the cheapest being New South Wales’ Lithgow that has a median price of $429,000 and South Australia’s Glenunga having the most expensive median price at $1.4m.
“Vendors have noticed, raising their asking prices in all but two of the locations — this is likely to translate to higher selling prices in the second half of the year.”
The suburbs included in the list have experienced substantial reduction in days on market between January and April 2022.
Furthermore, these suburbs also reported lower inventory levels, which refer to the time needed for the existing stock to be totally sold.
Most of the suburbs in the list have an inventory level of under one month, which means it would take less than 30 days for the current supply to be sold (assuming no further stock is added to the market).
State
Suburb
Type
Median asking price
Days on Market
Inventory Level
VIC
Campbells Creek
House
$659,000
37
Under 1 month
QLD
Corinda
House
$1,208,340
23
Under 1 month
NSW
Albion Park Rail
House
$772,500
20
Under 1 month
NSW
Tuncurry
House
$705,000
38
Under 1 month
NSW
Lithgow
House
$429,000
34
Under 1 month
NSW
Albion Park
House
$821,600
20
4 months
NSW
Smithfield
Unit
$691,200
45
Under 1 month
SA
Greenwith
House
$545,000
26
Under 1 month
NSW
Rylstone
House
$480,000
40
Under 1 month
TAS
Gagebrook
House
$320,000
24
Under 1 month
WA
Chidlow
House
$649,000
43
1.7 months
NSW
Calderwood
House
$949,000
21
3 months
QLD
Enoggera
House
$1,025,000
22
Under 1 month
SA
Glenunga
House
$1,400,000
18
1.2 months
VIC
Cranbourne North
Unit
$490,000
35
1.3 months
NSW
Wangi Wangi
House
$897,600
31
1.3 months
SA
Golden Grove
House
$575,000
34
Under 1 month
ACT
Banks
House
$779,100
20
Under 1 month
NSW
Woodrising
House
$663,000
25
1.2 months
VIC
Cranbourne East
Unit
$504,720
37
3 months
—
Photo by @aguywithcamera on Unsplash
Top Suburbs :
berala
,
lalor park
,
alexandra hills
,
greenwood
,
canterbury
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